Trenton – The Senate Military and Veterans’ Affairs Committee passed legislation sponsored by Senators Troy Singleton and Vin Gopal to extend the property taxes rebate offered to disabled veterans to those renting homes or apartments.
“It is our collective, moral responsibility to provide support to our veterans, not just when they're serving abroad, but when they return to civilian life as well,” said Senator Troy Singleton (D-Burlington). “New Jersey currently provides property tax relief to disabled veterans who own their homes, but not to those who rent. This bill would extend that property tax relief to disabled veterans who are renters in recognition of their great service to our nation.”
The bill, S-2736, would provide a gross income tax credit to cover a portion of the rent paid by the disabled veteran. The bill would require that a rental property that the disabled veteran occupies is his or her principal residence. The veteran would have to have been declared partially or permanently disabled due to combat injuries by the federal VA. If the veteran passes away, the surviving spouse would be entitled to the same tax credit.
“Veterans and their families across New Jersey have made immense sacrifices to make this country and the world safer. In our state, we show appreciation for their service through job training and financial assistance. However, not all of our veterans are provided the same level of assistance,” said Senator Vin Gopal (D-Monmouth), Chair of the Senate Military and Veterans’ Affairs Committee. “In New Jersey, disabled veterans who rent do not receive the same level of support as those who own their homes. We must update the law to include these veterans as well, as they are often less financially well-off than those who own their homes.”
The bill was released from committee by a vote of 5-0.